Gerald Weller said "We double the standard deduction immediately, so for those who do not itemize, they provide immediate relief. Then we begin phasing in over a short period of time the widening of the 15 percent bracket to help those who are itemizers, such as homeowners. The earned income tax credit is immediate, as well. One thing I would point out to the gentleman from Florida is the primary beneficiaries of the proposal that we are going to vote on tomorrow are those with incomes between $30,000 and $75,000 in combined income. A married couple with a combined income of $30,000 will see almost 97 percent of their tax burden eliminated when we wipe out their marriage tax penalty. A couple making a combined income of $75,000, and most people do not consider that rich today, will see about 10 percent of their income taxes wiped out by wiping out the marriage tax penalty." @ PoliticalQuotes.com

On the recordFebruary 9, 2000

We double the standard deduction immediately, so for those who do not itemize, they provide immediate relief. Then we begin phasing in over a short period of time the widening of the 15 percent bracket to help those who are itemizers, such as homeowners. The earned income tax credit is immediate, as well. One thing I would point out to the gentleman from Florida is the primary beneficiaries of the proposal that we are going to vote on tomorrow are those with incomes between $30,000 and $75,000 in combined income. A married couple with a combined income of $30,000 will see almost 97 percent of their tax burden eliminated when we wipe out their marriage tax penalty. A couple making a combined income of $75,000, and most people do not consider that rich today, will see about 10 percent of their income taxes wiped out by wiping out the marriage tax penalty.

Said by

Gerald Weller

Republican · Illinois

Source

govinfo.gov

Editor's note · Context

Discussing tax relief proposals and their impact on middle-income families.

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